Posted on 12/06/2022 4:48:00 PM PST by Carriage Hill
You’d best be prepared to document your $1,000 cost of the guitar; that will be the issue. An acquaintance sold items on ebay briefly until he got a huge tax bill - and he couldn’t document the cost basis of many of the items sold.
Nice! It’s one of my favorite things to make!
(and eat!)
My state of NJ within the last few years passed a law requiring businesses to accept cash; when so many people are living outside the system (working for cash, and paying rent on illegal apartments with it) then there is no way to eliminate cash.
Well, ya know, cash carries Covid-19, so.......
Yes, they were trying that one, too.
I’ve seen some businesses stop accepting cash under that guise, but pressure will grow on them to reverse that policy. The fact is that in an area with so many illegals, refusing to accept cash will destroy many businesses; we’re at a point where refusing to PAY cash is killing them.
Taxation is just another way to control people. It is theft.
Make no mistake, the blame lies both with Democrats AND Republicans. Little gems like this are always hidden in multi-thousand page omnibus spending bills. Nobody in Con-gress bothers to read them, if they even have the time to do so.
>And I still have no problem with people being audited for their income that they unreported. Everyone should be reporting their income, honestly and completely, let’s all play fair.<
That’s not the point. The process is the punishment.
Say you have a kid in college and you use Zelle to transfer money to them. It’s all legit and they are listed as a dependent. Then a hair-across-the-butt IRS goon decides to flag it. Have fun in the audit.
Make sure you bring the receipts for everthing you purchased last year.....as well as your checkbook.
EC
The Zelle loophole will be closed. My guess is that by 2024, it will be gone.
If it were a perfect world and the government was spending the money responsibly I would agree with you. However we both know the government has lost sight of it’s true responsibilities.
What reason do we have to give money, our tax money, to nations and peoples who hate us? Our tax money goes to every hellhole in the world and all we get in return is the back of the hand. If we had back every dollar spent propping up other countries with “foreign aid” since 1945 we could pay off the debt and completely refurbish the roads and bridges with the money left over.
When our rulers get a clue I’ll pay attention.
Not until.
Fourth Amendment to the Constitution of the United States.
"The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized."
The American people no longer have the will to defend their liberties given to them by God, and the Constitution of the United States.
Stick a fork in it.! :(
So let it be written, so let it be done...
Hmmm... There should be a way to consider inflation in the deal... Maybe you actually LOST money.. (?)
I think it’s the total that counts, not just single transactions.
Or you buy a toy in 1982 for $12 find it in your closet 40 years later and sell it for 750. Subtract 10000 for 40 years of self storage fees and its a loss. Such crap.
CASH is KING
Yes, it is, until Digital Currency comes our way.
Yeah, but people aren’t all going to play fair. And if you know the right people and are afilliated with the right party, you will be exempt from the rules or audits.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.